Finance : Secondary SGB buyers must now pay 12.5% LTCG tax, unlike primary holders. The change reshapes returns and investment strategies in...
Income Tax : Establishes that higher tax burdens on promoters under the new regime require companies to reassess payout strategies. The takeawa...
Finance : The Supreme Court has allowed taxpayers to challenge retrospective amendments validating JAO reassessment actions. It stayed ongoi...
Income Tax : The issue arose from taxing buybacks as dividends, causing higher tax burden and unusable capital losses. The reform restores capi...
Income Tax : The Supreme Court has admitted a case to resolve conflicting interpretations of due dates for PF/ESI contributions. The ruling wil...
Income Tax : The amendments focus on reassessment timelines, electronic communication, and procedural clarity. The changes aim to reduce litiga...
Income Tax : The Government introduced reforms to simplify tax dispute resolution, including broader immunity provisions and expanded scope for...
Income Tax : A focused session breaks down recent Budget amendments affecting NRI taxation. It highlights how changes impact income, investment...
CA, CS, CMA : Budget 2026 prioritises easing compliance, reducing penalties, and cutting litigation rather than raising tax rates. The reforms a...
Custom Duty : New baggage rules and processing regulations are notified, replacing earlier frameworks and aligning customs procedures for passen...
Goods and Services Tax : Discover the key amendments in the Finance (No. 2) Bill, 2024, affecting CGST, IGST, UTGST, and Cess Act, including tax exemptions...
Income Tax : A petition has been filed in the Madras High Court challenging the section 271J of the Income Tax Act inserted vide Finance Act 2...
Income Tax : U/s 250(4), the CIT (A) has the power to direct enquiry and call for evidence from the assessee. Under Rule 46A, the assessee has ...
Income Tax : CBDT updated DIN rules to align with new provisions introduced under the Finance Act, 2026. The circular mandates DIN for most tax...
Income Tax : The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal...
Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026. The rescission is ...
Excise Duty : The government has extended key excise provisions and introduced a specific duty structure for CNG blended with biogas. The key ta...
Excise Duty : The government has reduced the effective National Calamity Contingent Duty on specified tobacco products. The key takeaway is a ca...
CA Pradeep Jain , Ranu Dhoot Burdened with extraordinary expectations after a campaign that promised “good days are coming,” Prime Minister Narendra Modi’s center-right government presented the most hyped budget on Thursday aimed at increasing investment, improving infrastructure and reviving manufacturing, though it fell short of the drastic overhauls necessary to rein in spending. The […]
1.0 DIRECT TAXES No change in the tax rates. No change in applicable Surcharge and Education Cess. Personal income tax exemption limit increased by Rs. 50,000 i.e. from Rs. 2,00,000 to Rs. 2,50,000 in the case of individual taxpayers who are below the age of 60 years. Similarly, the exemption limit in case of senior […]
This downloadable Income Tax Calculator, calculate Tax on your Income for for Financial Year 2014-15 / Assessment Year AY 2015-16 Automatically without any hassle.
Tax Proposals of Budget-2014 for Salaried and Retired People along with Automatic Income Tax Tax Calculator in Excel format for Financial Year 2014-15 or Assessment Year 2015-16.
Personal Income-tax exemption limit raised by Rs. 50,000/- that is, from Rs. 2 lakh to Rs. 2.5 lakh in the case of individual taxpayers, below the age of 60 years. Exemption limit raised from Rs. 2.5 lakh to Rs. 3 lakh in the case of senior citizens. This is very good initiative by the NDA Govt. since public is already suffering from the Inflation, so I think this will provide some relaxation to Middle class persons.
Tax Benefits/ Exemptions to Individual/ HUF Basic Exemption Limit for FY 2014-15 is increased to Rs. 250000/- for individuals (whether male or female) below 60 years of age. For persons of 60 years or above, the basic exemption limit is raised to Rs. 300000/- Limit for Deduction u/s 80C has been increased to Rs. 150000/-. […]
Filing of appeal is a mechanism available to the assessees who are aggrieved by the orders passed by the adjudicating authority or the higher appellate authorities. However, mere filing of appeal is not sufficient and there is a condition of making pre-deposit of duty or tax amount involved in the case.
Section 92CC of the Act provides for Advance Pricing Agreement (APA). It empowers the Central Board of Direct Taxes, with the approval of the Central Government, to enter into an APA with any person for determining the Arm’s Length Price (ALP) or specifying the manner in which ALP is to be determined in relation to an international transaction which is to be entered into by the person.
Period of holding for Equity Mutual fund units has increased from 12 months to 36 months for capital gain purpose and Tax raised from 10% to 20%. Introduced Range concept in Transfer Pricing Tax Holiday for power sector companies extended to 10 years New definition for MSME to enhance the scope of incentives
With the coming up of new government led by Mr. Naredndra Modi, came new hopes. The hopes for a better India once again dawned in the hearts of the people. The much talked about Budget of 2014 was the ray of hope for the people. The budget brought in a several boons if not many for different sectors in the country
